One of the pre-conditions for filing a claim with SIDREC is that an investor must have first filed a complaint against the relevant SIDREC Member through its internal dispute resolution process. Following this:
(i) Where the SIDREC Member has attempted to resolve the complaint and the investor is not satisfied with the final reply of the SIDREC Member on the complaint, the investor may file a claim with SIDREC within 180 days from the date of receipt of the Member’s final reply on their complaint; or
(ii) Where the SIDREC Member has not resolved the complaint through its internal dispute resolution process within 90 days after receipt of the complaint, the investor may file the claim with SIDREC.
In filing your claim, you may download a copy of the Dispute/Claim Form.
It would be helpful if you have complete documentation, but you may still come to SIDREC for consultation and submit your documents later. You are advised to submit promptly any documentation that will help support your claim upon request by SIDREC as SIDREC’s process is meant to be speedy.
No, you do not need the services of a lawyer to file a complaint with SIDREC or for any part of SIDREC’s dispute resolution process. SIDREC’s case managers will assist you through the process and the mediator/adjudicator will facilitate to ensure a fair process is adhered to. Parties are free to seek advice from their lawyers. However, there are limitations to lawyers participating in SIDREC’s dispute resolution process as stated below:
1. Mandatory Scheme (Part A of SIDREC’s TOR)
2. Voluntary Scheme (Part B & C of SIDREC’s TOR)
Claims exceeding RM250,000 (Part B of SIDREC’s TOR) and court-referred mediation (Part C of SIDREC’s TOR)
Any person given permission by SIDREC to attend the meeting or hearing must abide by the SIDREC’s TOR and the spirit of SIDREC’s dispute resolution process. Where the mediator or adjudicator are of the view that a person is in any way undermining the process, the mediator or adjudicator may exclude such person from the said meeting or hearing.